Key Stats
Founded: 1984 (as Family Hospital Physician Associates)
Headquarters: Clayton, Missouri (St. Louis metro area)
CEO: Sarah London (since March 2022)
Employees: Approximately 69,000
Stock Symbol: NYSE: CNC
Centene Corporation is a managed care company that provides health insurance programs for government-sponsored and privately insured populations. Based in Clayton, Missouri, the company ranks No. 23 on the 2025 Fortune 500.
The company operates the largest Medicaid managed care organization in the United States, serving approximately 28 million members across all 50 states. Centene also offers Medicare Advantage plans, ACA marketplace coverage under the Ambetter brand, and TRICARE services for military families.
Beyond its core insurance business, Centene provides specialty services including behavioral health care, pharmacy benefits management, vision and dental coverage, correctional healthcare through its Centurion subsidiary, and telehealth services.
Centene History
1984
Company Founded
Elizabeth “Betty” Brinn, a former hospital bookkeeper, founds Family Hospital Physician Associates as a nonprofit Medicaid plan in Milwaukee, Wisconsin. The company begins operating in the basement of Family Hospital.
1996
New Leadership
Michael Neidorff joins as President and CEO, beginning a 26-year tenure that would transform the company into a national healthcare giant.
1997
Rebranding and Relocation
The company is renamed Centene Corporation and establishes its corporate headquarters in St. Louis, Missouri.
2001
Initial Public Offering
Centene goes public on the New York Stock Exchange with three health plans, $327 million in revenue, and 235,000 members.
2016
Health Net Acquisition
Centene completes its acquisition of Health Net for $6.8 billion, nearly doubling the company’s size and adding significant presence in California and western states.
2020
WellCare Acquisition
Centene acquires WellCare Health Plans for $17.3 billion, adding over 6 million members and expanding its Medicare Advantage and prescription drug plan offerings.
2022
Magellan Health and Leadership Change
Centene completes its $2.2 billion acquisition of Magellan Health for behavioral health services. Sarah London succeeds Michael Neidorff as CEO in March.
Centene Founder
Elizabeth “Betty” Brinn
Elizabeth Brinn founded Centene’s predecessor company in 1984 while working as a bookkeeper at Family Hospital in Milwaukee. Growing up in a children’s home gave her firsthand experience with the difficulties of accessing healthcare, which inspired her to create a Medicaid plan focused on low-income populations. After her death in 1992, the nonprofit was sold to investors, with proceeds going to the Betty Brinn Foundation. The Betty Brinn Children’s Museum in Milwaukee is named in her honor.
Centene Acquisitions
Centene has grown primarily through acquisitions, transforming from a small regional Medicaid plan into one of the largest healthcare companies in the United States. The company’s acquisition strategy has focused on expanding its geographic reach and adding capabilities across government healthcare programs.
In 2006, Centene acquired US Script, a pharmacy benefits manager, which was later merged with other subsidiaries to form the Envolve division. The company entered correctional healthcare in 2011 through Centurion, a joint venture with MHM Services (which Centene later acquired in full in 2018).
The 2016 acquisition of Health Net for $6.8 billion was transformative, adding Medicare Advantage and commercial insurance offerings while expanding Centene’s presence in California and the western United States. In 2018, the company acquired Fidelis Care, a New York Medicaid insurer, for $3.75 billion.
Centene’s largest deal came in January 2020 with the $17.3 billion acquisition of WellCare Health Plans. This transaction added over 6 million members and established Centene as a leader in Medicare Advantage and prescription drug plans. The company now markets its Medicare products under the Wellcare brand.
In January 2022, Centene completed its $2.2 billion acquisition of Magellan Health to expand its behavioral health capabilities. Later that year, the company sold its pharmacy benefit management businesses for $2.8 billion to focus on its core insurance operations.
Centene Revenue
Centene generated $163.07 billion in revenue for fiscal year 2024, making it one of the largest healthcare companies by revenue in the United States. The company’s revenue has grown substantially over the past decade, driven by Medicaid expansion under the ACA and strategic acquisitions.
Centene Marketcap
Centene has a market capitalization of approximately $21 billion as of February 2026. The company’s valuation has fluctuated in recent years due to pressures in the managed care industry and Medicaid redetermination processes following the end of pandemic-era continuous enrollment requirements.
Centene Competitors
Centene operates in the competitive managed care industry, primarily focused on government-sponsored healthcare programs. The company competes with other large insurers for Medicaid contracts, Medicare Advantage enrollees, and ACA marketplace customers.
| Company | Headquarters | Focus |
|---|---|---|
| UnitedHealth Group | Minnetonka, Minnesota | Full-spectrum healthcare, Medicare Advantage leader |
| Elevance Health (Anthem) | Indianapolis, Indiana | Blue Cross Blue Shield licensee, commercial and government plans |
| Humana | Louisville, Kentucky | Medicare Advantage specialist, senior healthcare |
| Cigna Group | Bloomfield, Connecticut | Commercial insurance, pharmacy benefits (Express Scripts) |
| CVS Health (Aetna) | Woonsocket, Rhode Island | Integrated pharmacy and insurance, Medicaid plans |
| Molina Healthcare | Long Beach, California | Medicaid and Medicare specialist |
| Kaiser Permanente | Oakland, California | Integrated health system, HMO model |
| HCSC (Health Care Service Corporation) | Chicago, Illinois | Blue Cross Blue Shield plans in five states |
| Oscar Health | New York, New York | Technology-focused ACA marketplace plans |
| Clover Health | Franklin, Tennessee | Medicare Advantage with AI-driven care |
FAQs
What does Centene do?
Centene provides managed care services for government healthcare programs including Medicaid, Medicare, and TRICARE. The company also offers ACA marketplace plans under the Ambetter brand and specialty services like behavioral health and pharmacy benefits.
How many members does Centene have?
Centene serves approximately 28 million members across its various health plans. The company operates in all 50 U.S. states and is the nation’s largest Medicaid managed care organization.
Who is the CEO of Centene?
Sarah London has served as CEO since March 2022. She succeeded Michael Neidorff, who led the company for 26 years and transformed it from a small regional plan into a Fortune 25 company.
Who founded Centene?
Elizabeth “Betty” Brinn founded Centene as a nonprofit Medicaid plan called Family Hospital Physician Associates in Milwaukee, Wisconsin, in 1984. She created the company to help low-income people access quality healthcare.
What is Ambetter?
Ambetter is Centene’s brand for individual and family health insurance plans sold through the ACA Health Insurance Marketplace. Ambetter plans are available in multiple states and offer coverage options for people who do not qualify for Medicaid or employer-sponsored insurance.